LHC moved against petroleum price hike
A petition was filed on Monday in the Lahore High Court (LHC) challenging the recent petroleum price hike.
The petitioner argued the petroleum prices have decreased in the international market but it was different in Pakistan. The petition further added it was an act of exploitation and the federal government has increased suffering of the people instead of providing relief.
Finance Minister Ishaq Dar on Sunday announced an increase of up to Rs35 in petroleum prices with an immediate effect as Pakistan is scrambling to meet the conditions of the International Monetary Fund (IMF) for revival of much-needed loan program stalled since last September.
The prices of the petrol and diesel had been jacked up by Rs35 per litre each, taking the new prices to Rs249.82 and Rs262.80 respectively, he said.
The price of kerosene oil surged to Rs189.93 per litre after an increase of Rs18 while the light speed diesel also witnessed as much increase with new price reaching to Rs187 per litre.